Amendment-84-97a - Laserfiche WebLink

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Iia. Public Agency shall contribute to said Retirement System as follows: a. With respect to local Miscellaneous Members, the agency shall contribute the following percentages of monthly salaries earned as local miscellaneous members of said Retirement Systems (1) 0.172 percent until June; 30, 2000 can account of the lia- bility for prior service benefits. (Subject to annual change.) (2) 14.507 percent until dune 30, 2000 on account of the lia- bility for current service benefits. (Subject to annual change.) b. With respect to local safety members, the agency shall contribute the following percentages of monthly salaries earned as local safety members of said Retirement System: (1) 27.3411 percent until June 30w 2000 on account of the lia- bility for current service benefits, (Subject to annual change.) C, A reasonable amount, as fixed by the Board, payable in one in- stalkent within 60 days of date of contract to cover the coats of administering said Systema as it affects the employees of Public Agency, not including the costs of special valuations or o: than periodic investigation and valuations required by law. d. A reusonaable amount, as fixed by the Board, payable in one in- aata;llment as the occasions arise, to carver the costs of special valuations can account of employees of Public,. Agency, and coasts of the periodic investigation and valuations required by law. 11. Contributions required of Public Agency and its employees shall be subject to adjustment by Board on account of amendments to the Public: Employee& Retirement Law, and on account of the experience sander the Retirement System .as determined by the periodic i.nvestigaatlon and valuation required by said Hatir€oment Law. 12. Contributions required of Public Agency and its employees shall, be: paid by Public Agency to the Retirement System within thirty days after the end of the period to which said contributions refer or its may be: prescribed by Board regulation. If move or less than the cor- rect amount of contributions is paid for any period, proper adjustment shall be made in connection with subsequent remittances, or adjust- ments on account of errors in contributions required of any employee may be grade by direct cash payments between the employee and the Board.